Nowadays you see a lot of people starting their own crypto project and yeah part of that is true because we see more and more crypto projects on the internet. Enough of these projects are memecoins, although at the same time there are also plenty of projects that are pushing the crypto world forward. One of those projects is Badger DAO.
With Badger DAO, a group of people wants to make it easier to develop crypto projects. They believe in the power of the community, because in this way people can support and help each other. It seems like a complicated project, although it is quite simple to understand. That’s why we’re going to tell you all about Badger DAO in this article, so you know what this project is and how it works. Of course we will also tell you where you could buy the BADGER token.
What is the Badger DAO?
Badger is a decentralized autonomous organization (DAO) with one goal: to create the products and infrastructure needed to accelerate the use of Bitcoin as collateral on other blockchains.
This is a DAO ecosystem where projects and people involved in DeFi can come together to collaborate and create the products the crypto world needs. Shared ownership in the DAO will allow builders to have incentives, while decentralized governance can ensure those incentives remain fair to all parties. The idea is: less competition and more cooperation.
That is why it is important that it starts from day one as a community initiative, with all private keys, assets and smart contract products under the control of the BADGER token holders. All decisions are made through voting, including what, how and when Badger DAO products are created. It is equally important to ensure that the BADGER tokens are distributed fairly so that all participants have the opportunity to participate and benefit from it.
These are the pillars that ensure Badger always remains community-based, fair and transparent.
- Badger Builders
- Community created products
- Dedicated Badger Operation Team
- Initial Fair Distribution of BADGER Tokens for Governance
- All code is open source
- No centralized control
Members of the Badger community can propose new product ideas to the DAO, present the proposal to the community as a whole via video, and ultimately submit the proposal to an official vote for approval if it passes these stages. Once approved, the Badger DAO operations team will work with them to build, finance and market it. Of course, the idea is that not just one member of the community proposes a product, but that many employees come together to make the best possible products.
This structure is meant to give everyone the opportunity to create what they need, be it an individual developer, a blockchain company, a software company, or just someone with an idea. Everything launched by the Badger community must be inherently fair, transparent and rewarding for everyone involved in the implementation of the product. This includes cost sharing, token rewards , etc.
They believe that together, the community can more efficiently create the products our industry needs, as opposed to separate centralized entities creating fragmented solutions.
Who is behind Badger DAO?
The team behind Badger DAO consists of four friends who have been active in the cryptocurrency world for a long time. These are Albert Castellana, Alberto Cevallos, Chris Spadafora and Ameer Rosic. They came up with the idea of launching a community-based DAO ecosystem that can use Bitcoin as collateral.
In doing so, they have partnered with Org, a DAO dedicated to partnering with crypto projects to launch products. Together they have laid the foundation for Badger and Digg, smart contracts, DAO, staking infrastructure, liquidity extraction and inter-product collaboration.
Until now, the founders have financed, designed and developed everything. This includes third-party audits (with Zokyo). Going forward, Albert Castellana and Alberto Cevallos will act in an advisory capacity within Badger, while Chris Spadafora and Ameer Rosic will be part of the operational team. Chris will act as the lead operator with support from the other team members. dOrg will shortly help support the technical infrastructure while the operations team expands its internal resources.
Competition from Badger DAO
There is a lot of competition lurking. Badger DAO’s biggest competitors are DuckDAO , DAO Maker, Curve DAO Token, DerivaDAO, and DigixDAO. It doesn’t stop there as there are plenty of other crypto projects that could be categorized as competition for Badger DAO. This makes it anything but easy for the team behind Badger DAO to make this project a success.
Fees are key to driving long-term teams to make every effort to make a project a success. With this in mind, the team has decided to spend 10% of the total supply ($2,100,000 BADGER) on founder rewards. These tokens will not be distributed all at once. Instead, since Badger is community-run, a percentage of each Badger will be sent to the founders’ wallet (the address of which will be made public). The other 90% goes to the community and no one else.
The founders reward portfolio will be locked for 1 year with the option to participate in the voting. This wallet will distribute tokens to the founders on a monthly basis evenly over 12 months. They believe it is important that in addition to time-based unlocking mechanisms, there are also performance-based unlocking mechanisms. So we created the ability for the DAO to add wallet addresses to the whitelist, allowing the founder’s reward wallet to dole out to those addresses. The only way to do this is to get the community to vote and push the feature to the DAO smart contract.
What is Sett (Badger DAO product)?
A badger’s house is called a SETT. These pits are so strong and protective that they can be centuries old and used by many generations of badgers. Exactly what they do for crypto enthusiasts.
Badger is a DAO that makes Bitcoin focused products, and it is important that when distributing the BADGER token there is a real product to drive. Besides that, Sett will be the only way for people to earn BADET tokens.
Sett is an automated DeFi aggregator focused on tokenized BTC coins. Inspired by and based on Yearn.Finance, users will actively deposit to earn a return. The smart contracts then put those assets to work by executing various strategies through DeFi protocols. That way, users maximize the returns they get from their positions without doing the heavy lifting (multiple trades, gas charges, etc.).
What is Digg (product of Badger DAO)?
The team believes it is important to prioritize how products should be developed and launched. Digg (the community’s second product) will be launched along with the BADGER token.
Digg is a non-custodial synthetic Bitcoin on Ethereum . It is a cryptocurrency with an elastic supply that is indexed to the Bitcoin price. Each day, the bid is automatically adjusted on all wallets, based on the USD value of $DIGG against $BTC. If the price of Digg is higher than BTC, the value of your wallet will increase; if it’s lower, your balance will drop.
The goal of this product is to eliminate the need for centralized parties to monitor the price of BTC and instead rely on the elastic parameters of smart token contracts to maintain the link. Every day at the same time, the system calls a price oracle to give the USD value of Bitcoin and if there is a need to increase the supply (Digg is higher than BTC) it should result in selling pressure on the token as holders now have a have a larger amount of Digg in their wallets. The same works in reverse with the increase in demand.
Digg’s parameters were created in this way to encourage change. There’s a lot that can be done with the protocol to bring it closer to entrenching, such as recalibrating each block or creating additional incentives to boost buying and selling pressure. After launch, the community will follow this protocol.
The Digg token will be launched midway through the distribution of the BADGER token. Similar to Badger, it will have an independent liquidity launch where users will participate in our Setts and Badger DAO token holders will have full control over the protocol. The Badger DAO will also control the remaining 50% of the undistributed DIGG stock during liquidity mining , further encouraging community ownership.
How can I buy Badger DAO (BADGER)?
There are several ways to get Badger DAO (BADGER). It is best to buy BADGER from a centralized crypto exchange , such as Binance , Coinbase , Coinmerce or Bitvavo . You probably also know that there are many crypto exchanges. However, it is not wise to just choose a broker. This is partly due to safety and the costs involved. Some exchanges are not safe enough, and others charge sky-high transaction costs.
We recommend that you buy BADGER from Binance or Bitvavo, because you can buy this cryptocurrency here for the best price and security. These exchanges are among the largest, so they can always offer high liquidity. This ensures that you as a buyer and seller get the best price for your crypto coins.
It is of course also possible to buy BADGER from a decentralized exchange (DEX) such as Uniswap or Sushiswap . However, that is not recommended if you are still a novice crypto trader. This is because you have to go through quite a few steps before you have actually purchased your coins. The chance that things will go wrong is therefore many times greater than with Binance or Bitvavo.
How can I store BADGER?
If you want to store BADGER in a wallet, make sure you choose a wallet that supports BADGER. Fortunately, it is an ERC-20 token, which means that it is supported by almost all wallets. These tokens run on Ethereum, which is the most widely used blockchain for crypto projects.
You can then store BADGER in both a hot wallet and a hardware wallet . A hot wallet is often linked to the crypto exchange where you buy BADGER, although this is not the most secure option. A hot wallet is always linked to the internet, which means that hackers could gain access to it at any time.
If you want to go for the most secure storage option, it is best to choose a hardware wallet. As the name suggests, this is a wallet in the form of a USB stick. You can therefore completely disconnect this wallet from the internet. The moment you have not linked the wallet to a computer, it is impossible for hackers to get into the wallet. Of course you still have to store the wallet in a safe way. The most popular hardware wallets are from Ledger and Trezor.
Badger DAO Price
There are more and more projects within the crypto world. This makes the choice for crypto traders increasingly difficult. The goal of Badger DAO is to have many more products launched. They want to do that by letting the crypto community help each other, and use their platform for this. People who have an idea for a new crypto project can submit it to the community. This will then be voted on, after which the project will actually be developed.
A DAO is not new. There are therefore a lot of competitors that will make it difficult for Badger DAO. It is your choice to determine whether Badger DAO has enough unique features to stand out from the competition. When you think so, an investment in Badger DAO could turn out to be beneficial and profitable.
Thanh Lanh Tran(1989) is Chief Editor from BitcoinUSD.com